Frequently Asked Questions

There is no such thing as a silly question when it comes to finance and most of them have been asked before.

If you can’t find the answer you are looking for from the below questions, please contact us on 1300 669 538 and we’ll be happy to help you out.

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Find your finance and loan answers here.

Q. What is a finance broker?

A. A finance broker is an individual who works independently of any bank of lending institution on behalf of their client in order to obtain finance to meet the client’s needs.
A finance broker works directly with the client to gain an understanding of their personal situation, before searching for the most suitable loan option for their requirements.

Q. Why should I use a finance broker?

A. A finance broker is beneficial as they can offer a broad range of loan products, more so than your usual bank or lender, this ensures that you have the absolute best deal to meet your needs.
They are qualified financial professionals, meaning the advice they give is accurate and valuable, often saving clients thousands of dollars by ensuring loans are structured correctly in your best interests.
They do the leg work for you, saving you time on having to shop around for the right loan.
They simplify the process of applying for finance, taking all of the stress out of it by handling the paperwork and dealing with the lender on your behalf.
You then have someone in your corner keeping an eye on your loan, in case you ever need to make any changes, they are only ever a phone call away

Q. How much does it cost?

A. Generally, there is no upfront cost to you.
The only time Finesteam will ever charge an upfront fee is if a formal approval is obtained, with the terms agreed upon by all parties, and then you decide to proceed with finance elsewhere.
The upfront fee is to cover the cost of the time it took us to arrange your formal approval, because like you; our work is valuable, and we don’t like to do it for free.
Generally speaking we are paid at settlement by the lenders. The amount they pay us in brokerage is reflected in your loan contract and allows us to manage your loan for you on an ongoing basis.

Q. How long does it take to get pre-approved?

A. Not long at all.
If we get all of your information from you in a timely manner, we can have you pre-approved in just a few hours.

Q. Can I arrange my finance before I have found a car?

A. You sure can.
This is where pre approvals come in handy. We can get the finance sorted out so that the money is ready to go, while you are on the hunt for a car. We can even help you in your search for a new vehicle if you need it.

Q. Can I finance a car I am buying privately?

A. Absolutely!
We will liaise with the private seller of the car to make sure everything is in order for you to be able to buy privately with confidence.
This includes carrying out the relevant checks on the vehicle to make sure all is well both mechanically and cosmetically.
We can also put a warranty on the vehicle to make it your private purchase just that little bit safer.

Q. Can I chose to use Finestream’s services for just parts of the FIND | BUY | SUPPORT model, or do I need to use all of them?

A. How much we do for you during the purchase of your new car is entirely up to you.
You can pick and mix our services as much as you need to. If it’s just finance you want, we can take care of that for you.
Or if you need us to find the car for you, negotiate the sale, arrange finance, arrange warranty, and arrange transport, we can do that too.
Just let us know how much you want us to take care of, and we will get it done.

Q. What interest rate does Finestream offer?

A. This is a common question and the answer is complex.
We do not have a set rate that everybody gets, we work with our clients over the course of their car purchase to make sure they have the absolute best loan that is available to them, however interest rate is usually determined by each individual’s personal circumstance, so every rate is different.

Q. What documents do I need to apply for finance?

A. You will need:

Current ID Documents, usually a driver’s licence and a Medicare card suffice.

Proof of your income by way of payslips, or a tax return

Insurance for your vehicle (we can help arrange this for you to make it easier)

Sometimes we are asked for additional documentation based on each individual application, however we will only request information from you as we need it.

Q. I haven’t done my business financials yet, can I still get finance?

A. Absolutely.
If you have been in business for at least 2 years, and you own real estate, we can get you up to $100,000 with no financials providing you have clear credit history.
This isn’t just for cars either, we can also get equipment for your business under this simple business finance offering.

Q. Can Finestream help me with anything other than my car loan?

A. We sure can.
Although we pride ourselves on our unique car purchasing service, we can also assist you with:

Home Loans

Personal loans

Equipment Finance

Truck Finance

Boat Finance

Aviation Finance

Caravan Finance

Motorbike Finance

Solar Finance

Q. I’m buying a car through a dealer and they are pushing me to take their finance, can Finestream help?

A. We sure can.
Unfortunately pressure sales tactics are all too common when it comes to finance offered in dealerships.
The best thing you can do is talk to us about setting up your pre-approval before you even start looking around for a car, that way you can shop like a cash buyer.
However if you have happened upon the car of your dreams but don’t feel comfortable with getting finance forced on you by the dealership, you are under no obligation at all to take their finance offer.
We can liaise with the dealer on your behalf to remove any pressure they otherwise could try to put on you. It’s that easy.

Q. The dealer’s finance offer seems convenient because I can take it out right there in the dealership, do I really need to consider other alternatives for finance?

A. Where you chose to get your finance from is up to you, however if you were in the market for a fine watch, would you buy it from a supermarket just because they sell watches and its convenient because you can pick it up at the same time as your bread and your milk?
A finance contract on a car is a complex and important thing, and it is something you will have for at least a few years, so it is important it’s done the right way by a finance professional.
It is also worth considering whether or not you place a value on having someone on your side, taking care of your loan, that you can call at any time to make updates to, or query anything about the loan.
At Finestream Capital, car finance is what we do.
We don’t sell bread or milk.

Q. I have bad credit history, can I still get finance?

A. At Finestream, we have specialist Consultants who deal with bad credit car loan applications all day, every day.
They will look at your application and present it in a way that gives it the highest chance of being approved.
Your ability to get an approval depends on the severity of your default history, however rest assured that whatever can be done, will be done in order to get your car loan sorted.
Worst case scenario? We work with you on an ongoing basis and give you guidance and coaching on what you need to do to be eligible for a car loan in the future.

Q. Can I get finance on an older car?

A. How old are we talking about here?
Although we do have finance options on vehicles that have a few more years on them than others, it gets to the point where a secured car loan no longer becomes an option for finance.
When that happens we use an unsecured personal loan to get you into that mid 80’s classic that you remember so fondly from your childhood.